Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2020 | Nov. 09, 2020 | |
Document Information [Line Items] | ||
Entity Registrant Name | ATOSSA THERAPEUTICS, INC. | |
Entity Central Index Key | 0001488039 | |
Trading Symbol | atos | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 10,492,835 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock, $0.18 par value |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Current assets | ||
Cash and cash equivalents | $ 9,105,950 | $ 12,581,136 |
Restricted cash | 110,000 | 110,000 |
Prepaid expenses | 1,484,251 | 862,344 |
Research and development tax rebate receivable | 439,205 | 739,656 |
Other current assets | 178,911 | 26,130 |
Total current assets | 11,318,317 | 14,319,266 |
Furniture and equipment, net | 25,429 | 34,350 |
Intangible assets, net | 45,417 | 68,542 |
Right-of-use asset | 31,279 | 50,479 |
Other assets | 17,218 | 17,218 |
Total Assets | 11,437,660 | 14,489,855 |
Current liabilities | ||
Accounts payable | 682,612 | 293,171 |
Accrued expenses | 85,173 | 77,888 |
Payroll liabilities | 752,847 | 899,420 |
Lease liability | 30,063 | 39,371 |
Other current liabilities | 14,671 | 12,892 |
Total current liabilities | 1,565,366 | 1,322,742 |
Long term liabilities | ||
Lease liability long term | 1,217 | 11,108 |
Total Liabilities | 1,566,583 | 1,333,850 |
Commitments and contingencies (Note 12) | ||
Stockholders' equity | ||
Preferred stock - $0.001 par value; 10,000,000 shares authorized; 623 and 671 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively | 1 | 1 |
Common stock - $0.18 par value; 175,000,000 shares authorized; 10,464,250 and 9,130,984 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively | 1,883,553 | 1,643,565 |
Additional paid-in capital | 111,780,197 | 104,912,480 |
Accumulated deficit | (104,415,673) | (94,071,040) |
Total Stockholders' Equity | 9,871,077 | 13,156,005 |
Total Liabilities and Stockholders' Equity | 11,437,660 | 14,489,855 |
Series B Preferred Stock [Member] | ||
Stockholders' equity | ||
Additional paid-in capital - Series B convertible preferred stock | $ 622,999 | $ 670,999 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2020 | Dec. 31, 2019 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, issued (in shares) | 623 | 671 |
Preferred stock, outstanding (in shares) | 623 | 671 |
Common stock, par value (in dollars per share) | $ 0.18 | $ 0.18 |
Common stock, authorized (in shares) | 175,000,000 | 175,000,000 |
Common stock, issued (in shares) | 10,464,250 | 9,130,984 |
Common stock, outstanding (in shares) | 10,464,250 | 9,130,984 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Operating expenses | ||||
Research and development | $ 1,659,075 | $ 1,684,215 | $ 4,250,934 | $ 5,747,399 |
General and administrative | 1,849,741 | 1,613,983 | 6,130,698 | 8,901,197 |
Total operating expenses | 3,508,816 | 3,298,198 | 10,381,632 | 14,648,596 |
Operating loss | (3,508,816) | (3,298,198) | (10,381,632) | (14,648,596) |
Other income | 17,745 | 12,284 | 36,999 | 26,846 |
Loss before income taxes | (3,491,071) | (3,285,914) | (10,344,633) | (14,621,750) |
Income taxes | ||||
Net loss | $ (3,491,071) | $ (3,285,914) | $ (10,344,633) | $ (14,621,750) |
Loss per common share - basic and diluted (in dollars per share) | $ (0.34) | $ (0.36) | $ (1.09) | $ (1.77) |
Weighted average shares outstanding - basic and diluted (in shares) | 10,162,770 | 9,130,057 | 9,496,222 | 8,283,302 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) | Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | Preferred Stock Additional Paid-in Capital [Member]Series B Convertible Preferred Stock [Member] | Common Stock [Member] | Common Stock Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 2,379 | 5,846,552 | ||||
Balance at Dec. 31, 2018 | $ 2 | $ 2,378,997 | $ 1,052,372 | $ 82,204,902 | $ (76,831,263) | $ 8,805,010 |
Issuance of common stock upon warrant exercise (in shares) | 2,799,188 | |||||
Issuance of common stock upon warrant exercise | $ 503,854 | 10,832,856 | ||||
Conversion of Series B convertible preferred stock to common stock (in shares) | 1,677 | (476,431) | ||||
Conversion of Series B convertible preferred stock to common stock | $ (1) | (1,676,998) | $ 85,753 | 1,591,246 | ||
Compensation cost for stock options granted | 275,833 | 275,833 | ||||
Reclassification of stock-based compensation liability upon option cancellation | 3,151,944 | 3,151,944 | ||||
Net loss | (4,073,307) | (4,073,307) | ||||
Conversion of Series B convertible preferred stock to common stock (in shares) | (1,677) | 476,431 | ||||
Balance at Mar. 31, 2019 | $ 1 | 701,999 | $ 1,641,979 | 98,056,781 | (80,904,570) | 19,496,190 |
Balance (in shares) at Mar. 31, 2019 | 702 | 9,122,171 | ||||
Balance (in shares) at Dec. 31, 2018 | 2,379 | 5,846,552 | ||||
Balance at Dec. 31, 2018 | $ 2 | 2,378,997 | $ 1,052,372 | 82,204,902 | (76,831,263) | $ 8,805,010 |
Issuance of common stock upon warrant exercise (in shares) | 2,800,000 | |||||
Net loss | $ (14,621,750) | |||||
Balance at Sep. 30, 2019 | $ 1 | 670,999 | $ 1,643,565 | 104,156,643 | (91,453,013) | 15,018,195 |
Balance (in shares) at Sep. 30, 2019 | 671 | 9,130,984 | ||||
Balance (in shares) at Mar. 31, 2019 | 702 | 9,122,171 | ||||
Balance at Mar. 31, 2019 | $ 1 | 701,999 | $ 1,641,979 | 98,056,781 | (80,904,570) | 19,496,190 |
Conversion of Series B convertible preferred stock to common stock (in shares) | 26 | (7,392) | ||||
Conversion of Series B convertible preferred stock to common stock | (26,000) | $ 1,330 | 24,670 | |||
Compensation cost for stock options granted | 5,318,796 | 5,318,796 | ||||
Net loss | (7,262,529) | (7,262,529) | ||||
Conversion of Series B convertible preferred stock to common stock (in shares) | (26) | 7,392 | ||||
Balance at Jun. 30, 2019 | $ 1 | 675,999 | $ 1,643,309 | 103,400,247 | (88,167,099) | 17,552,457 |
Balance (in shares) at Jun. 30, 2019 | 676 | 9,129,563 | ||||
Conversion of Series B convertible preferred stock to common stock (in shares) | 5 | (1,421) | ||||
Conversion of Series B convertible preferred stock to common stock | (5,000) | $ 256 | 4,744 | |||
Compensation cost for stock options granted | 751,652 | 751,652 | ||||
Net loss | (3,285,914) | (3,285,914) | ||||
Conversion of Series B convertible preferred stock to common stock (in shares) | (5) | 1,421 | ||||
Balance at Sep. 30, 2019 | $ 1 | 670,999 | $ 1,643,565 | 104,156,643 | (91,453,013) | 15,018,195 |
Balance (in shares) at Sep. 30, 2019 | 671 | 9,130,984 | ||||
Balance (in shares) at Dec. 31, 2019 | 671 | 9,130,984 | ||||
Balance at Dec. 31, 2019 | $ 1 | 670,999 | $ 1,643,565 | 104,912,480 | (94,071,040) | 13,156,005 |
Compensation cost for stock options granted | 687,752 | 687,752 | ||||
Net loss | (2,947,420) | (2,947,420) | ||||
Balance at Mar. 31, 2020 | $ 1 | 670,999 | $ 1,643,565 | 105,600,232 | (97,018,460) | 10,896,337 |
Balance (in shares) at Mar. 31, 2020 | 671 | 9,130,984 | ||||
Balance (in shares) at Dec. 31, 2019 | 671 | 9,130,984 | ||||
Balance at Dec. 31, 2019 | $ 1 | 670,999 | $ 1,643,565 | 104,912,480 | (94,071,040) | 13,156,005 |
Net loss | (10,344,633) | |||||
Balance at Sep. 30, 2020 | $ 1 | 622,999 | $ 1,883,553 | 111,780,197 | (104,415,673) | $ 9,871,077 |
Common stock issued for option exercises (in shares) | 225,000 | |||||
Balance (in shares) at Sep. 30, 2020 | 623 | 10,464,250 | ||||
Balance (in shares) at Mar. 31, 2020 | 671 | 9,130,984 | ||||
Balance at Mar. 31, 2020 | $ 1 | 670,999 | $ 1,643,565 | 105,600,232 | (97,018,460) | $ 10,896,337 |
Conversion of Series B convertible preferred stock to common stock (in shares) | 45 | (12,786) | ||||
Conversion of Series B convertible preferred stock to common stock | (45,000) | $ 2,301 | 42,699 | |||
Compensation cost for stock options granted | 1,036,484 | 1,036,484 | ||||
Net loss | (3,906,142) | (3,906,142) | ||||
Conversion of Series B convertible preferred stock to common stock (in shares) | (45) | 12,786 | ||||
Issuance of common stock, net of issuance costs (in shares) | 160,108 | |||||
Issuance of common stock, net of issuance costs | $ 28,820 | 318,807 | 347,627 | |||
Balance at Jun. 30, 2020 | $ 1 | 625,999 | $ 1,674,686 | 106,998,222 | (100,924,602) | 8,374,306 |
Balance (in shares) at Jun. 30, 2020 | 626 | 9,303,878 | ||||
Conversion of Series B convertible preferred stock to common stock (in shares) | 3 | (853) | ||||
Conversion of Series B convertible preferred stock to common stock | (3,000) | $ 154 | 2,846 | |||
Compensation cost for stock options granted | 663,593 | 663,593 | ||||
Net loss | (3,491,071) | (3,491,071) | ||||
Conversion of Series B convertible preferred stock to common stock (in shares) | (3) | 853 | ||||
Issuance of common stock, net of issuance costs (in shares) | 1,083,531 | |||||
Issuance of common stock, net of issuance costs | $ 195,036 | 4,143,635 | 4,338,671 | |||
Balance at Sep. 30, 2020 | $ 1 | 622,999 | $ 1,883,553 | 111,780,197 | $ (104,415,673) | 9,871,077 |
Common stock issued for option exercises (in shares) | 225,000 | |||||
Common stock issued for option exercises | $ 40,500 | 500,600 | 541,100 | |||
Shares withheld related to cashless exercise of options and taxes (in shares) | (149,012) | |||||
Shares withheld related to cashless exercise of options and taxes | $ (26,823) | $ (528,699) | $ (555,522) | |||
Balance (in shares) at Sep. 30, 2020 | 623 | 10,464,250 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) | 3 Months Ended | |
Sep. 30, 2020 | Jun. 30, 2020 | |
Common Stock Additional Paid-in Capital [Member] | ||
Issuance costs | $ 178,545 | |
Issuance costs | $ 135,157 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (10,344,633) | $ (14,621,750) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Compensation cost for stock options granted | 2,387,829 | 6,346,281 |
Disposal of assets | 4,149 | 5,806 |
Depreciation and amortization | 37,265 | 40,289 |
Change in fair value of stock-based compensation liability | 1,741,919 | |
Changes in operating assets and liabilities: | ||
Prepaid expenses | (621,907) | 79,791 |
Research and development tax rebate receivable | 300,451 | (50,882) |
Other assets | (152,781) | 28,878 |
Accounts payable | 389,441 | 148,102 |
Accrued expenses | 7,285 | (165,343) |
Payroll liabilities | (146,573) | 48,398 |
Other current liabilities | 1,779 | (21,524) |
Net cash used in operating activities | (8,137,695) | (6,420,035) |
CASH FLOWS FROM INVESTING ACTIVITY | ||
Purchase of furniture and equipment | (9,367) | (7,625) |
Net cash used in investing activities | (9,367) | (7,625) |
CASH FLOWS FROM FINANCING ACTIVITY | ||
Proceeds from issuance of common stock, net of issuance costs | 4,686,298 | |
Payment of taxes related to net-exercise of employee stock options | (14,422) | |
Proceeds from exercise of warrants | 0 | 11,336,710 |
Net cash provided by financing activities | 4,671,876 | 11,336,710 |
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (3,475,186) | 4,909,050 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE | 12,691,136 | 10,490,493 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE | 9,215,950 | 15,399,543 |
SUPPLEMENTAL DISCLOSURES | ||
Cash and cash equivalents | 9,105,950 | 15,289,543 |
Restricted cash | 110,000 | 110,000 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE | 9,215,950 | 15,399,543 |
NONCASH INVESTING AND FINANCING ACTIVITIES | ||
Reclassification of stock-based liability awards to equity upon cancellation | 3,151,944 | |
Common stock issued upon cashless exercise of stock options | 541,100 | |
Conversion of Series B convertible preferred stock to common stock | $ 48,000 | $ 1,707,999 |
Note 1 - Nature of Operations
Note 1 - Nature of Operations | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | NOTE 1: On January 6, 2020, Atossa Therapeutics, Inc. (the “Company”) was incorporated on April 30, 2009, December 31. 19" Impact of the Novel Coronavirus The continued spread of the COVID- 19 may third H201, 301 19 may 19 may may not may 19 may not 19 19 may 19 not third September 30, 2020, not 301 H201. 19. fourth 2020. 301 third 2020 fourth 2020. one H201 first 2021. 19 In response to the Coronavirus pandemic, the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) was signed into law on March 27, 2020. no three nine September 30, 2020. may |
Note 2 - Going Concern
Note 2 - Going Concern | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | NOTE 2: The Company has incurred net losses and negative operating cash flows since inception. For the nine September 30, 2020, $10.3 $8.1 September 30, 2020, $9.1 $9.8 not six ten The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. As the Company is currently not no 19 may may not |
Note 3 - Summary of Accounting
Note 3 - Summary of Accounting Policies | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | NOTE 3: Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10 10 01 X. not no 10 December 31, 2019. not In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three nine September 30, 2020, not may December 31, 2020. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Research and Development Expense Research and development ("R&D") costs are generally expensed as incurred. R&D expenses include, for example, manufacturing expenses for our drugs under development, expenses associated with clinical trials and associated salaries and benefits. R&D expenses also include an estimated allocation of the CEO's salary and related benefits including non-cash stock-based compensation expense based on time devoted to R&D. Recently Adopted Accounting Pronouncements On January 1, 2020, No. 2018 13, Fair Value Measurement (Topic 820 820, 3 no |
Note 4 - Restricted Cash
Note 4 - Restricted Cash | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Restricted Assets Disclosure [Text Block] | NOTE 4: The Company's restricted cash balance of $110,000 September 30, 2020 December 31, 2019, |
Note 5 - Prepaid Expenses
Note 5 - Prepaid Expenses | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Prepaid Expenses [Text Block] | NOTE 5: Prepaid expenses consisted of the following: As of September 30, As of December 31, 2020 2019 Prepaid research and development $ 1,176,042 $ 507,733 Prepaid insurance 63,703 222,476 Professional services 199,002 108,850 Financial exchange fees 10,750 - Retainer and security deposits 14,218 14,218 Prepaid rent 8,976 4,275 Other 11,560 4,792 Total prepaid expenses $ 1,484,251 $ 862,344 |
Note 6 - Research and Developme
Note 6 - Research and Development Tax Rebate Receivable | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Research and Development Tax Rebate Receivable [Text Block] | NOTE 6: On May 23, 2017, 1 2 19 $0.435 nine September 30, 2020 2019, $439,000 $398,000, September 30, 2020 December 31, 2019, $439,205 $739,656, |
Note 7 - Payroll Liabilities
Note 7 - Payroll Liabilities | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | NOTE 7: Payroll liabilities consisted of the following: As of September 30, As of December 31, 2020 2019 Accrued bonuses $ 498,359 $ 646,064 Accrued vacation 162,798 170,820 Accrued payroll 91,690 82,536 Total payroll liabilities $ 752,847 $ 899,420 |
Note 8 - Stockholders' Equity
Note 8 - Stockholders' Equity | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 8: The Company is authorized to issue a total of 185,000,000 175,000,000 $0.18 10,000,000 $0.001 750,000 $0.001 4,000 $0.001 25,000 $0.001 No no September 30, 2020 December 31, 2019. Equity Distribution Agreements On February 7, 2020, $0.18 $5,000,000. 3.0% no three nine September 30, 2020 1,083,531 1,243,639, $4,338,671 $4,686,298, three nine September 30, 2020 $135,157 $313,702, July 29, 2020, $5,000,000. On September 25, 2020, $0.18 $10,000,000. 3.0% no may September 30, 2020, no Warrants As of September 30, 2020, 1,070,028 $4.05 May 30, 2022. There were no three nine September 30, 2020. nine September 30, 2019, $11.3 2.8 2.8 No three September 30, 2019. Conversion of Series B Convertible Preferred Stock During the three nine September 30, 2020, 3 48 853 13,639 three nine September 30, 2019, 5 1,708 1,421 485,244 284 |
Note 9 - Net Loss Per Share
Note 9 - Net Loss Per Share | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 9: Basic net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding. In addition, in computing the dilutive effect of convertible securities, the numerator is adjusted to add back any convertible preferred dividends. Diluted net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares that would have been outstanding during the period assuming the issuance of common shares for all potential dilutive common shares outstanding. Potential common shares consist of potential future exercises of outstanding stock options and common stock warrants. Because the inclusion of potential common shares would be anti-dilutive for all periods presented, they have been excluded from the calculation. The following table summarizes the Company's calculation of net loss per common share: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Numerator Net loss attributable to common shareholders $ (3,491,071 ) $ (3,285,914 ) $ (10,344,633 ) $ (14,621,750 ) Denominator Weighted average common shares outstanding used to compute net loss per share, basic and diluted 10,162,770 9,130,057 9,496,222 8,283,302 Net loss per share of common stock, basic and diluted: $ (0.34 ) $ (0.36 ) $ (1.09 ) $ (1.77 ) The following table sets forth the number of potential common shares excluded from the calculation of net loss per diluted share, because including them would be anti-dilutive: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Options to purchase common stock 7,158,387 4,348,383 5,825,082 2,572,413 Series B convertible preferred stock 177,562 191,543 183,544 281,015 Warrants to purchase common stock 1,070,028 1,070,028 1,070,028 1,828,085 8,405,977 5,609,954 7,078,654 4,681,513 |
Note 10 - Income Taxes
Note 10 - Income Taxes | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 10: Deferred income tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial reporting and tax bases of assets and liabilities and are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not As a result of the Company's cumulative losses, management has concluded that a full valuation allowance against the Company's net deferred tax assets is appropriate. No September 30, 2020 December 31, 2019, |
Note 11 - Concentration of Cred
Note 11 - Concentration of Credit Risk | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE 11: Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. September 30, 2020 December 31, 2019, $8,032,950 $12,316,429 |
Note 12 - Commitments and Conti
Note 12 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 12: Lease Commitments The Company evaluates all contractual agreements at inception to determine if they contain a lease. Lease liabilities are measured at present value of lease payments not The Company's operating lease assets consist of an office lease and a copier system lease. In May 2020, August 31, 2020 February 28, 2021. $20,200 October 2021. None three nine September 30, 2020 2019, $14,200 $14,700, $46,300 $44,100, September 30, 2020, 7.0 11.3%. As of September 30, 2020, $14,200 $19,400 2020 2021, September 30, 2020 2019, $2,300 $13,000, three nine September 30, 2020 $12,900 $42,300, $13,900 $42,700, September 30, 2019. Litigation and Contingencies We are subject to legal proceedings and claims that arise in the normal course of business. We believe these matters are either without merit or of a kind that should not |
Note 13 - Stock Based Compensat
Note 13 - Stock Based Compensation | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | NOTE 13: Stock Option and Incentive Plan On March 24, 2020, 2020 "2020 No may 2020 10 3,000,000 2020 On September 28, 2010, 2010 "2010 may 2010 September 2020. 5,556 2010 May 18, 2016, 11,111 2010 May 9, 2018, 125,000 2010 April 12, 2018, 500,000 2010 May 16, 2019 3,600,000 The following table presents the automatic additions to the 2010 2010 January 1, Number of 2012 2,502 2013 2,871 2014 4,128 2015 5,463 2016 7,257 2017 12,623 2018 106,076 2019 233,862 2020 365,239 Total additional shares 740,021 The Company granted options to purchase 225,000 3,140,000 three nine September 30, 2020, 0 3,565,000 three nine September 30, 2019, 225,000 three nine September 30, 2020 $2.40 No three nine September 30, 2019. 670,000 2020 September 30, 2020. Included in the 2020 “2020 1,500,000 195,000 2010 1,305,000 2020 590,000 195,000 2010 395,000 2020 The 2020 $1.48 2020 two 50% 2020 2020 The fair value of the stock options granted for the nine September 30, 2020 2019 Period ended September 30, 2020 2019 Risk-free interest rate 0.28% 0.47% 2.16% 2.20% Expected term 4.50-6.18 years 5.00-5.94 years Dividend yield - - Expected volatility 103% 129% 107% 126% Compensation costs associated with the Company's stock options are recognized, based on the grant-date fair values of these options, over the requisite service period, or vesting period. Accordingly, the Company recognized stock-based compensation expense of $663,593 $2,387,829 three nine September 30, 2020, $751,652 $6,346,281 three nine September 30, 2019, Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 General and administrative $ 489,853 $ 510,398 $ 1,675,414 $ 4,136,727 Research and development 173,740 241,254 712,415 2,209,554 Total stock compensation expense $ 663,593 $ 751,652 $ 2,387,829 $ 6,346,281 Options issued and outstanding as of September 30, 2020, 2020 2010 nine Number of Weighted- Weighted- Aggregate Outstanding as of January 1, 2020 4,308,383 $ 3.44 - $ 651,000 Granted 3,140,000 1.79 - 449,600 Exercised (225,000) 2.40 - 297,250 Forfeited (143,552) 1.87 - 272,000 Expired - - - - Outstanding as of September 30, 2020 7,079,831 2.77 8.85 $ 5,629,600 Exercisable as of September 30, 2020 4,332,821 3.34 8.42 $ 3,616,727 Vested and expected to vest 7,079,831 $ 2.77 8.85 $ 5,629,600 At September 30, 2020, 2,747,010 $3,928,067. 1.92 Liability Options On June 27, 2018, 2,300,000 700,000 2010 2010 January 13, 2019, Compensation costs associated with the Liability Options were initially recognized, based on the grant-date fair values of these options, over the requisite or vesting period for time-based options or when it is probable the performance criteria were achieved for options that vest based on performance. Compensation cost was remeasured each period based on the market value of our underlying stock until award vesting or settlement. At the time of cancellation, the fair value of Liability Options at January 13, 2019, January 13, 2019 Risk-free interest rate 2.53 % Expected term (in years) 4.50 5.00 Stock price $ 1.36 Dividend yield - % Expected volatility 121.0 123.0 % As a result of the cancellation of these options in the first 2019, $1,741,919, three March 31, 2019 nine September 30, 2019: General and administrative $ 1,074,183 Research and development 667,736 Total stock compensation expense $ 1,741,919 Also on January 13, 2019, 2,300,000 800,000 “2019 2019 $1.36 not 2010 January 13, 2019, 2019 2010 2019 not 2010 2018 2019 not 2019 The above actions were unanimously approved by the disinterested members of the Board of Directors. The above actions were intended to eliminate the Company's potential liability associated with the net cash exercise provision of the Liability Options, and to allow the stockholders of the Company the opportunity to vote on the Amended Plan, which includes shares issuable upon exercise of the 2019 May 16, 2019, 2019 Accounting Treatment Awards offered under a plan that are subject to shareholder approval are not may not 2019 2019 not 718. not no January 13, 2019, $1,741,919 2018 $3,151,944 May 16, 2019, 2019 2019 718 June 30, 2019. $4,959,277 second 2019 2019 |
Note 14 - Subsequent Event
Note 14 - Subsequent Event | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 14: In October November 2020, 84,016 $135,400, $4,188. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10 10 01 X. not no 10 December 31, 2019. not In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three nine September 30, 2020, not may December 31, 2020. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Expense Research and development ("R&D") costs are generally expensed as incurred. R&D expenses include, for example, manufacturing expenses for our drugs under development, expenses associated with clinical trials and associated salaries and benefits. R&D expenses also include an estimated allocation of the CEO's salary and related benefits including non-cash stock-based compensation expense based on time devoted to R&D. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements On January 1, 2020, No. 2018 13, Fair Value Measurement (Topic 820 820, 3 no |
Note 5 - Prepaid Expenses (Tabl
Note 5 - Prepaid Expenses (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | As of September 30, As of December 31, 2020 2019 Prepaid research and development $ 1,176,042 $ 507,733 Prepaid insurance 63,703 222,476 Professional services 199,002 108,850 Financial exchange fees 10,750 - Retainer and security deposits 14,218 14,218 Prepaid rent 8,976 4,275 Other 11,560 4,792 Total prepaid expenses $ 1,484,251 $ 862,344 |
Note 7 - Payroll Liabilities (T
Note 7 - Payroll Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | As of September 30, As of December 31, 2020 2019 Accrued bonuses $ 498,359 $ 646,064 Accrued vacation 162,798 170,820 Accrued payroll 91,690 82,536 Total payroll liabilities $ 752,847 $ 899,420 |
Note 9 - Net Loss Per Share (Ta
Note 9 - Net Loss Per Share (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Numerator Net loss attributable to common shareholders $ (3,491,071 ) $ (3,285,914 ) $ (10,344,633 ) $ (14,621,750 ) Denominator Weighted average common shares outstanding used to compute net loss per share, basic and diluted 10,162,770 9,130,057 9,496,222 8,283,302 Net loss per share of common stock, basic and diluted: $ (0.34 ) $ (0.36 ) $ (1.09 ) $ (1.77 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Options to purchase common stock 7,158,387 4,348,383 5,825,082 2,572,413 Series B convertible preferred stock 177,562 191,543 183,544 281,015 Warrants to purchase common stock 1,070,028 1,070,028 1,070,028 1,828,085 8,405,977 5,609,954 7,078,654 4,681,513 |
Note 13 - Stock Based Compens_2
Note 13 - Stock Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | January 1, Number of 2012 2,502 2013 2,871 2014 4,128 2015 5,463 2016 7,257 2017 12,623 2018 106,076 2019 233,862 2020 365,239 Total additional shares 740,021 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Period ended September 30, 2020 2019 Risk-free interest rate 0.28% 0.47% 2.16% 2.20% Expected term 4.50-6.18 years 5.00-5.94 years Dividend yield - - Expected volatility 103% 129% 107% 126% January 13, 2019 Risk-free interest rate 2.53 % Expected term (in years) 4.50 5.00 Stock price $ 1.36 Dividend yield - % Expected volatility 121.0 123.0 % |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Number of Weighted- Weighted- Aggregate Outstanding as of January 1, 2020 4,308,383 $ 3.44 - $ 651,000 Granted 3,140,000 1.79 - 449,600 Exercised (225,000) 2.40 - 297,250 Forfeited (143,552) 1.87 - 272,000 Expired - - - - Outstanding as of September 30, 2020 7,079,831 2.77 8.85 $ 5,629,600 Exercisable as of September 30, 2020 4,332,821 3.34 8.42 $ 3,616,727 Vested and expected to vest 7,079,831 $ 2.77 8.85 $ 5,629,600 |
Share-based Payment Arrangement, Option [Member] | |
Notes Tables | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 General and administrative $ 489,853 $ 510,398 $ 1,675,414 $ 4,136,727 Research and development 173,740 241,254 712,415 2,209,554 Total stock compensation expense $ 663,593 $ 751,652 $ 2,387,829 $ 6,346,281 General and administrative $ 1,074,183 Research and development 667,736 Total stock compensation expense $ 1,741,919 |
Note 2 - Going Concern (Details
Note 2 - Going Concern (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Net Income (Loss) Attributable to Parent, Total | $ (3,491,071) | $ (3,906,142) | $ (2,947,420) | $ (3,285,914) | $ (7,262,529) | $ (4,073,307) | $ (10,344,633) | $ (14,621,750) | |
Net Cash Provided by (Used in) Operating Activities, Total | (8,137,695) | (6,420,035) | |||||||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 9,105,950 | $ 15,289,543 | 9,105,950 | $ 15,289,543 | $ 12,581,136 | ||||
Working Capital | $ 9,800,000 | $ 9,800,000 |
Note 4 - Restricted Cash (Detai
Note 4 - Restricted Cash (Details Textual) - USD ($) | Sep. 30, 2020 | Sep. 30, 2019 |
Restricted Cash and Cash Equivalents, Total | $ 110,000 | $ 110,000 |
Note 5 - Prepaid Expenses - Sch
Note 5 - Prepaid Expenses - Schedule of Prepaid Expenses (Details) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Prepaid research and development | $ 1,176,042 | $ 507,733 |
Prepaid insurance | 63,703 | 222,476 |
Professional services | 199,002 | 108,850 |
Financial exchange fees | 10,750 | |
Retainer and security deposits | 14,218 | 14,218 |
Prepaid rent | 8,976 | 4,275 |
Other | 11,560 | 4,792 |
Total prepaid expenses | $ 1,484,251 | $ 862,344 |
Note 6 - Research and Develop_2
Note 6 - Research and Development Tax Rebate Receivable (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | May 23, 2017 | |
Research and Development Expense, Total | $ 1,659,075 | $ 1,684,215 | $ 4,250,934 | $ 5,747,399 | ||
Research and Development Tax Rebate Receivable | $ 439,205 | 439,205 | $ 739,656 | |||
Atossa Genetics AUS Pty Ltd [Member] | ||||||
Research and Development Cash Rebate per Dollar | $ 0.435 | |||||
Research and Development Expense, Total | $ 439,000 | $ 398,000 |
Note 7 - Payroll Liabilities -
Note 7 - Payroll Liabilities - Schedule of Payroll Liabilities (Details) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Accrued bonuses | $ 498,359 | $ 646,064 |
Accrued vacation | 162,798 | 170,820 |
Accrued payroll | 91,690 | 82,536 |
Total payroll liabilities | $ 752,847 | $ 899,420 |
Note 8 - Stockholders' Equity (
Note 8 - Stockholders' Equity (Details Textual) - USD ($) | Sep. 25, 2020 | Jul. 29, 2020 | Feb. 07, 2020 | Mar. 31, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Dec. 31, 2019 |
Number of Shares Authorized to Issue (in shares) | 185,000,000 | 185,000,000 | 185,000,000 | |||||||
Common Stock, Shares Authorized (in shares) | 175,000,000 | 175,000,000 | 175,000,000 | 175,000,000 | ||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.18 | $ 0.18 | $ 0.18 | $ 0.18 | ||||||
Preferred Stock, Shares Authorized (in shares) | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | ||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | ||||||
Preferred Stock, Shares Issued, Total (in shares) | 623 | 623 | 623 | 671 | ||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 623 | 623 | 623 | 671 | ||||||
Proceeds from Issuance of Common Stock, Net | $ 4,686,298 | |||||||||
Proceeds from Warrant Exercises | $ 11,300,000 | $ 0 | $ 0 | $ 11,336,710 | ||||||
Class of Warrant or Right, Exercised During Period (in shares) | 0 | 2,800,000 | ||||||||
Stock Issued During Period, Shares, Warrant Exercised (in shares) | 2,800,000 | |||||||||
Conversion of Series B Convertible Preferred Stock into Common Stock [Member] | ||||||||||
Conversion of Stock, Shares Converted (in shares) | 3 | 48 | 1,708 | 5 | ||||||
Conversion of Stock, Shares Issued (in shares) | 853 | 1,421 | 13,639 | 485,244 | ||||||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | 284 | 284 | 284 | |||||||
The 2018 Warrants [Member] | ||||||||||
Class of Warrant or Right, Outstanding (in shares) | 1,070,028 | 1,070,028 | 1,070,028 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 4.05 | $ 4.05 | $ 4.05 | |||||||
At The Market Offering [Member] | ||||||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.18 | $ 0.18 | ||||||||
Stock to be Issued, Maximum Value | $ 5,000,000 | |||||||||
At The Market Offering [Member] | Oppenheimer & Co. Inc. [Member] | ||||||||||
Stock to be Issued, Maximum Value | $ 10,000,000 | |||||||||
Stock Issuance Costs, Commission Fee Percent | 3.00% | 3.00% | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,083,531 | 1,243,639 | ||||||||
Proceeds from Issuance of Common Stock, Net | $ 4,338,671 | $ 4,686,298 | ||||||||
Payments of Stock Issuance Costs | $ 135,157 | $ 313,702 | ||||||||
Proceeds from Issuance of Common Stock | $ 5,000,000 | |||||||||
Series A Junior Participating Preferred Stock [Member] | ||||||||||
Preferred Stock, Shares Authorized (in shares) | 750,000 | 750,000 | 750,000 | |||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | |||||||
Preferred Stock, Shares Issued, Total (in shares) | 0 | 0 | 0 | 0 | ||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | 0 | 0 | 0 | ||||||
Series A Convertible Preferred Stock [Member] | ||||||||||
Preferred Stock, Shares Authorized (in shares) | 4,000 | 4,000 | 4,000 | |||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | |||||||
Series B Convertible Preferred Stock [Member] | ||||||||||
Preferred Stock, Shares Authorized (in shares) | 25,000 | 25,000 | 25,000 | |||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | |||||||
Sale of Series A Convertible Preferred Stock [Member] | ||||||||||
Preferred Stock, Shares Issued, Total (in shares) | 0 | 0 | 0 | 0 | ||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | 0 | 0 | 0 |
Note 9 - Net Loss Per Share - S
Note 9 - Net Loss Per Share - Schedule of Earnings Per Share (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net loss attributable to common shareholders | $ (3,491,071) | $ (3,285,914) | $ (10,344,633) | $ (14,621,750) |
Weighted average common shares outstanding used to compute net loss per share, basic and diluted (in shares) | 10,162,770 | 9,130,057 | 9,496,222 | 8,283,302 |
Net loss per share of common stock, basic and diluted: (in dollars per share) | $ (0.34) | $ (0.36) | $ (1.09) | $ (1.77) |
Note 9 - Net Loss Per Share -_2
Note 9 - Net Loss Per Share - Schedule of Antidilutive Securities (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Number of potential common shares excluded (in shares) | 8,405,977 | 5,609,954 | 7,078,654 | 4,681,513 |
Share-based Payment Arrangement, Option [Member] | ||||
Number of potential common shares excluded (in shares) | 7,158,387 | 4,348,383 | 5,825,082 | 2,572,413 |
Series B Convertible Preferred Stock [Member] | ||||
Number of potential common shares excluded (in shares) | 177,562 | 191,543 | 183,544 | 281,015 |
Warrant [Member] | ||||
Number of potential common shares excluded (in shares) | 1,070,028 | 1,070,028 | 1,070,028 | 1,828,085 |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Accrued Income Taxes, Total | $ 0 | $ 0 |
Note 11 - Concentration of Cr_2
Note 11 - Concentration of Credit Risk (Details Textual) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Cash, Uninsured Amount | $ 8,032,950 | $ 12,316,429 |
Note 12 - Commitments and Con_2
Note 12 - Commitments and Contingencies (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||
May 31, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Increase (Decrease) in Operating Lease Right of Use Asset | $ 20,200 | ||||
Operating Lease, Expense | $ 14,200 | $ 14,700 | $ 46,300 | $ 44,100 | |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 7 years | 7 years | |||
Operating Lease, Weighted Average Discount Rate, Percent | 11.30% | 11.30% | |||
Lessee, Operating Lease, Liability, to be Paid, Remainder of Fiscal Year | $ 14,200 | $ 14,200 | |||
Lessee, Operating Lease, Liability, to be Paid, Year One | 19,400 | 19,400 | |||
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | 2,300 | 13,000 | 2,300 | 13,000 | |
Operating Lease, Payments | $ 12,900 | $ 13,900 | $ 42,300 | $ 42,700 | |
Increase (Decrease) in Operating Lease Liability | $ 20,200 |
Note 13 - Stock Based Compens_3
Note 13 - Stock Based Compensation (Details Textual) - USD ($) | Apr. 09, 2020 | May 16, 2019 | Jan. 13, 2019 | Jun. 27, 2018 | May 09, 2018 | Apr. 12, 2018 | May 18, 2016 | Sep. 30, 2020 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Mar. 24, 2020 | Sep. 28, 2010 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 3,140,000 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 225,000 | ||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price (in dollars per share) | $ 2.40 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 670,000 | 670,000 | |||||||||||||
Share-based Payment Arrangement, Expense | $ 663,593 | $ 751,652 | $ 2,387,829 | $ 6,346,281 | |||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 1.79 | ||||||||||||||
Adjustments to Additional Paid in Capital, Transfer of Stock-based Compensation Liability Upon Option Cancellation | $ 3,151,944 | $ 3,151,944 | |||||||||||||
Share-based Payment Arrangement, Option [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 225,000 | 0 | 3,140,000 | 3,565,000 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 225,000 | 0 | 0 | ||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price (in dollars per share) | $ 2.40 | $ 2.40 | |||||||||||||
Share-based Payment Arrangement, Expense | $ 663,593 | $ 751,652 | $ 2,387,829 | $ 6,346,281 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares, Ending Balance (in shares) | 2,747,010 | 2,747,010 | |||||||||||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 3,928,067 | $ 3,928,067 | |||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 335 days | ||||||||||||||
The 2020 Performance Options [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 1.48 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 2 years | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Unvested Percentage for Vesting to Accelerate Under Certain Approvals | 50.00% | ||||||||||||||
The 2020 Performance Options [Member] | Chairman of the Board, President and Chief Executive Officer [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 1,500,000 | ||||||||||||||
The 2020 Performance Options [Member] | Chief Financial Officer, General Counsel and Secretary [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 590,000 | ||||||||||||||
Liability Options [Member] | |||||||||||||||
Share-based Payment Arrangement, Expense | $ 1,741,919 | $ 1,741,919 | $ 1,741,919 | ||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 1 | ||||||||||||||
Liability Options [Member] | Chief Executive Officer [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 2,300,000 | ||||||||||||||
Liability Options [Member] | Chief Financial Officer [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 700,000 | ||||||||||||||
The 2019 Options [Member[ | |||||||||||||||
Share-based Payment Arrangement, Expense | $ 4,959,277 | ||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 1.36 | ||||||||||||||
The 2019 Options [Member[ | Chief Executive Officer [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 2,300,000 | ||||||||||||||
The 2019 Options [Member[ | Chief Financial Officer [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 800,000 | ||||||||||||||
The 2020 Stock Incentive Plan [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 3,000,000 | ||||||||||||||
The 2020 Stock Incentive Plan [Member] | The 2020 Performance Options [Member] | Chairman of the Board, President and Chief Executive Officer [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 1,305,000 | ||||||||||||||
The 2020 Stock Incentive Plan [Member] | The 2020 Performance Options [Member] | Chief Financial Officer, General Counsel and Secretary [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 395,000 | ||||||||||||||
The 2010 Stock Option and Incentive Plan [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares) | 3,600,000 | ||||||||||||||
The 2010 Stock Option and Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 5,556 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares) | 125,000 | 500,000 | 11,111 | ||||||||||||
The 2010 Stock Option and Incentive Plan [Member] | The 2020 Performance Options [Member] | Chairman of the Board, President and Chief Executive Officer [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 195,000 | ||||||||||||||
The 2010 Stock Option and Incentive Plan [Member] | The 2020 Performance Options [Member] | Chief Financial Officer, General Counsel and Secretary [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 195,000 |
Note 13 - Stock Based Compens_4
Note 13 - Stock Based Compensation - Additional Shares Authorized (Details) - shares | 9 Months Ended | 12 Months Ended | 105 Months Ended | |||||||
Sep. 30, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2020 | |
The 2010 Stock Option and Incentive Plan [Member] | ||||||||||
Total additional shares (in shares) | 365,239 | 233,862 | 106,076 | 12,623 | 7,257 | 5,463 | 4,128 | 2,871 | 2,502 | 740,021 |
Note 13 - Stock Based Compens_5
Note 13 - Stock Based Compensation - Valuation Assumptions (Details) - $ / shares | Jan. 13, 2020 | Sep. 30, 2020 | Sep. 30, 2019 |
Liability Options [Member] | |||
Risk-free interest rate | 2.53% | ||
Dividend yield | |||
Stock price (in dollars per share) | $ 1.36 | ||
Liability Options [Member] | Minimum [Member] | |||
Expected term (Year) | 4 years 182 days | ||
Expected volatility | 121.00% | ||
Liability Options [Member] | Maximum [Member] | |||
Expected term (Year) | 5 years | ||
Expected volatility | 123.00% | ||
Share-based Payment Arrangement, Option [Member] | |||
Dividend yield | |||
Share-based Payment Arrangement, Option [Member] | Minimum [Member] | |||
Risk-free interest rate | 0.28% | 2.16% | |
Expected term (Year) | 4 years 182 days | 5 years | |
Expected volatility | 103.00% | 107.00% | |
Share-based Payment Arrangement, Option [Member] | Maximum [Member] | |||
Risk-free interest rate | 0.47% | 2.20% | |
Expected term (Year) | 6 years 65 days | 5 years 343 days | |
Expected volatility | 129.00% | 126.00% |
Note 13 - Stock Based Compens_6
Note 13 - Stock Based Compensation - Stock-based Compensation Expense (Details) - USD ($) | Jan. 13, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2020 | Sep. 30, 2019 |
Stock compensation expense | $ 663,593 | $ 751,652 | $ 2,387,829 | $ 6,346,281 | ||
General and Administrative Expense [Member] | ||||||
Stock compensation expense | 489,853 | 510,398 | 1,675,414 | 4,136,727 | ||
Research and Development Expense [Member] | ||||||
Stock compensation expense | $ 173,740 | $ 241,254 | $ 712,415 | 2,209,554 | ||
Liability Options [Member] | ||||||
Stock compensation expense | $ 1,741,919 | $ 1,741,919 | 1,741,919 | |||
Liability Options [Member] | General and Administrative Expense [Member] | ||||||
Stock compensation expense | 1,074,183 | |||||
Liability Options [Member] | Research and Development Expense [Member] | ||||||
Stock compensation expense | $ 667,736 |
Note 13 - Stock Based Compens_7
Note 13 - Stock Based Compensation - Stock Option Activity (Details) | 9 Months Ended | |
Sep. 30, 2020USD ($)$ / sharesshares | Dec. 31, 2019USD ($) | |
Outstanding, shares (in shares) | shares | 4,308,383 | |
Outstanding, weighted average exercise price per share (in dollars per share) | $ / shares | $ 3.44 | |
Outstanding, aggregate intrinsic value | $ | $ 5,629,600 | $ 651,000 |
Granted, shares (in shares) | shares | 3,140,000 | |
Granted, weighted average exercise price per share (in dollars per share) | $ / shares | $ 1.79 | |
Granted, aggregate intrinsic value | $ | $ 449,600 | |
Exercised, shares (in shares) | shares | (225,000) | |
Exercised, weighted average exercise price per share (in dollars per share) | $ / shares | $ 2.40 | |
Exercised, aggregate intrinsic value | $ | $ 297,250 | |
Forfeited, shares (in shares) | shares | (143,552) | |
Forfeited, weighted average exercise price per share (in dollars per share) | $ / shares | $ 1.87 | |
Forfeited, aggregate intrinsic value | $ | $ 272,000 | |
Expired, shares (in shares) | shares | ||
Expired, weighted average exercise price per share (in dollars per share) | $ / shares | ||
Outstanding, shares (in shares) | shares | 7,079,831 | |
Outstanding, weighted average exercise price per share (in dollars per share) | $ / shares | $ 2.77 | |
Outstanding, weighted average contractual life remaining in years (Year) | 8 years 310 days | |
Exercisable, shares (in shares) | shares | 4,332,821 | |
Exercisable, Weighted average exercise price per share (in dollars per share) | $ / shares | $ 3.34 | |
Exercisable, weighted average contractual life remaining in years (Year) | 8 years 153 days | |
Exercisable, aggregate intrinsic value | $ | $ 3,616,727 | |
Vested and expected to vest, shares (in shares) | shares | 7,079,831 | |
Vested and expected to vest, Weighted average exercise price per share (in dollars per share) | $ / shares | $ 2.77 | |
Vested and expected to vest, weighted average contractual life remaining in years (Year) | 8 years 310 days | |
Vested and expected to vest, aggregate intrinsic value | $ | $ 5,629,600 |
Note 14 - Subsequent Event (Det
Note 14 - Subsequent Event (Details Textual) - Subsequent Event [Member] - At The Market Offering [Member] | 2 Months Ended |
Nov. 30, 2020USD ($)shares | |
Stock Issued During Period, Shares, New Issues (in shares) | shares | 84,016 |
Proceeds from Issuance of Common Stock | $ 135,400 |
Payments of Stock Issuance Costs | $ 4,188 |